XRP Surges to Highest Price Range in Months, Eyes $2 Target

XRP's price has surged over the past week, reaching $1.51 as of Tuesday and increasing by 52.8% in seven days. This growth is accompanied by a significant increase in network activity, with active addresses jumping 654.7% to 356,070.

The surge in active addresses reflects the number of unique addresses participating in transactions across the XRP Ledger, indicating increased user engagement and interest in the token. This growth comes as XRP pushes into its highest price range in months and is part of a broader rally in the cryptocurrency market.

The $1.70 level now serves as a key resistance zone for further price gains, with a clean break through this area necessary to open up higher targets such as $2. The move towards $2 would require another 32.5% gain and an expansion of buying pressure over the next six days.

Institutional demand is also increasing, with U.S. spot XRP ETFs attracting $39.8 million in inflows during the week ended August 21, their strongest weekly inflow since May.